/IMF: Per the FT: "Asia's economic growth......>

ASIA: /IMF: Per the FT: "Asia's economic growth will come to a halt for the

first time in 60 years because of coronavirus, the IMF has warned. Speaking at a

briefing on the regional economic outlook, the fund's Asia director, Chang Yong

Rhee, warned that the slowdown will be worse than the global financial crisis of

2008-09 and the Asian financial crisis of 1997. "The impact of the coronavirus

on the region will be severe, across the board, and unprecedented," he said.

"Unlike during the global financial crisis, Asia's real sector, especially the

service sector, is being hit hard by containment measures of the coronavirus

pandemic." Mr Rhee said that a quick recovery from the crisis was still

possible. "For 2021, there is hope: if containment policies succeed, we will see

a rebound in growth. However, it is highly uncertain how this year will

progress."